AbbVie Inc. (NYSE:ABBV) is Impact Capital Partners LLC's 7th Largest Position

Impact Capital Partners LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,137 shares of the company's stock after purchasing an additional 2,231 shares during the period. AbbVie accounts for approximately 1.8% of Impact Capital Partners LLC's holdings, making the stock its 7th biggest holding. Impact Capital Partners LLC's holdings in AbbVie were worth $5,057,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $31,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABBV. Morgan Stanley increased their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Bank of America increased their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $212.19.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

AbbVie Trading Up 1.3%

Shares of AbbVie stock traded up $2.42 on Friday, reaching $189.89. 3,604,574 shares of the company's stock were exchanged, compared to its average volume of 6,241,127. The company has a market capitalization of $335.42 billion, a P/E ratio of 79.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The firm's 50-day moving average is $184.24 and its two-hundred day moving average is $187.09. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.